Sugar manufacturer EID Parry (India) Ltd on Wednesday reported a 60.6 percent year-on-year (YoY) fall in consolidated net profit at Rs 108.9 crore for the first quarter that ended June 30, 2023.

In the corresponding quarter last year, EID Parry (India) posted a net profit of Rs 276.2 crore, the company said in a regulatory filing.

In the quarter, consolidated revenue from operations stood at Rs 7026.4 crore, falling 1.6 percent from Rs 7143.8 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA declined 3.2 percent to Rs 668.4 crore in the first quarter of this fiscal over Rs 690.6 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 9.5 percent in the reporting quarter as compared to 9.7 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The standalone revenue from operations for the quarter ended June 30, 2023, was Rs 698 crore in comparison to the corresponding quarter of the previous year of Rs 719 crore, the company said.

Loss before depreciation, interest, and taxes (EBITDA) for the quarter was Rs 15 Crore compared to a profit of Rs 11 crore in the corresponding quarter of the previous year (before exceptional items).

Standalone loss after tax for the quarter was Rs 46 crore as against a profit of Rs 13 crore in the corresponding quarter of the previous year.

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The consolidated sugar operations reported an operating loss of Rs 129 crore (corresponding quarter of the previous year: loss of Rs 9 crore) for the quarter. The consolidated farm inputs operations reported an operating profit of Rs 727 crore (corresponding quarter of the previous year: profit of Rs 689 crore) for the quarter.

The consolidated nutraceuticals division registered a loss before interest and tax of Rs 14 crore (corresponding quarter of the previous year: loss of Rs 4 crore), EID Parry (India) added.

Shares of EID Parry (India) Ltd ended at Rs 470.65, down by Rs 9.55, or 1.99 percent on the BSE.